Market Pulse: Theresa May Seeks Snap UK Election To Get Brexit Backing

British voters narrowly approved leaving the European Union a year ago, but political leaders are divided over how to proceed. So Prime Minister Theresa May is taking a gamble by calling for a snap election on June 8 in hopes of consolidating power behind a conservative approach and slowing opposition to details as she prepares to negotiate with the EU. The early election requires approval from two-thirds of MPs, and polls show strong support for her Conservative Party. “The risk is that the election emboldens those who regret voting for Brexit in last year’s referendum or increases support for independence in Scotland,” reports Dean Popplewell for Market Pulse. “A bigger majority would hand May a personal mandate from the people and give her greater power over her fellow Tories. That would enable her to pursue the Brexit she has outlined while also giving her room to make the concessions that may be forced upon her by her EU counterparts.” Britain must decide which EU policies and regulations to retain or adjust in many areas including immigration, trade, investing and travel. Some analysts anticipate the process could take up to a decade. – YaleGlobal